NewEdge Advisors LLC Trims Stake in NexGen Energy $NXE

NewEdge Advisors LLC reduced its stake in NexGen Energy (NYSE:NXE) by 94.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 9,188 shares of the company’s stock after selling 167,712 shares during the period. NewEdge Advisors LLC’s holdings in NexGen Energy were worth $107,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in NexGen Energy in the fourth quarter worth about $72,303,000. CIBC Asset Management Inc grew its holdings in shares of NexGen Energy by 341.9% during the 4th quarter. CIBC Asset Management Inc now owns 8,821,855 shares of the company’s stock worth $81,312,000 after acquiring an additional 6,825,731 shares during the period. Van ECK Associates Corp grew its holdings in shares of NexGen Energy by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 29,157,056 shares of the company’s stock worth $268,240,000 after acquiring an additional 5,523,932 shares during the period. Millennium Management LLC raised its position in shares of NexGen Energy by 97.8% in the 3rd quarter. Millennium Management LLC now owns 10,134,381 shares of the company’s stock worth $90,718,000 after acquiring an additional 5,011,890 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of NexGen Energy by 15.5% in the 4th quarter. Vanguard Group Inc. now owns 24,657,783 shares of the company’s stock worth $226,901,000 after acquiring an additional 3,304,071 shares in the last quarter. 42.43% of the stock is owned by institutional investors.

NexGen Energy Price Performance

NYSE:NXE opened at $11.09 on Thursday. The firm has a market capitalization of $7.42 billion, a P/E ratio of -27.72 and a beta of 1.40. NexGen Energy has a one year low of $7.17 and a one year high of $13.96. The company’s 50-day simple moving average is $9.83 and its 200 day simple moving average is $11.05.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NXE shares. Weiss Ratings restated a “sell (d-)” rating on shares of NexGen Energy in a research note on Tuesday, June 2nd. Scotiabank reaffirmed an “outperform” rating on shares of NexGen Energy in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded NexGen Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

NexGen Energy Profile

NexGen Energy is a Canada-based uranium exploration and development company focused on advancing its flagship Rook I project in the Athabasca Basin of northern Saskatchewan. The company’s primary activities include resource delineation, feasibility studies, and permitting for its high-grade Arrow deposit, one of the largest undeveloped uranium discoveries in the region. NexGen’s technical team employs advanced drilling, geophysical and geochemical techniques to expand and define its resource base, with the aim of delivering a robust, low-cost supply of uranium to global nuclear power markets.

The Rook I project sits within one of the world’s most prolific uranium districts, offering excellent infrastructure access, a skilled local workforce and a supportive regulatory regime.